From boardroom meetings to haggling with a vendor, to agreeing on where you’ll go for lunch, you probably face negotiation situations every waking day. It takes practice, social awareness, and finesse to close deals so that everyone is satisfied with the outcome. In a negotiation, no one wants to ask for too little or end up walking away unhappy.
Nowadays, there’s no shortage of resources to help you hone your skills, from onsite sales negotiation training to thousands of books on how to negotiate well. Here are four of the best suggestions to give you the confidence to ask for more and to demonstrate your value.
Prepare
Lack of preparation breeds fear. It also increases the likelihood of making uninformed decisions. You might overlook what the other person offers and end up leaving value off the table. Research your prospect’s history, including any past problems they may have had.
Even small negotiations require preparation and creativity, but the more complex a deal is, the more you need to prepare. You’ll be in a better position when you’ve gathered more information about the other side’s offer.
Also, try and identify potential stakeholders in a deal. These are the people you may not see who stand to benefit from the value you bring. Your research will help you figure out what the other person wants, and this can give you more leverage.
Play Conflict Resolution Games
Negotiation simulation games prepare you for real-world negotiations. These role-play simulations teach you how to use game theory in analyzing real-world situations and make strategic decisions. The games are also useful for anticipating the other side’s next move.
Los Angeles sales training makes use of these games to show you where your strengths and weaknesses lie during negotiation. Role-play can make you consider aspects you may not have thought of otherwise, like how to organize the content you’re presenting to a client or how to identify blind spots. Simulations are critical tools you can use to improve your negotiation techniques and improve your confidence when you face real scenarios.
Communication is Key
The underlying objective in a negotiation is to use your communication skills to convince or alter the perceptions of the other person. Your word choice, tone, and tempo guide the listener to understand and decode your intended message.
Nonverbal cues (anything that’s not “words”), such as eye contact, posture, and body movement, also play a significant role in building trust. These cues indicate you’re willing to listen. Use your body language in a way that shows you respect your customer. It’s better to appear engaged and open than to seem overly eager or closed-off.
Sales trainers emphasize learning to express your thoughts and ideas clearly. If you come off as nervous, the other person might try to take advantage of the situation. Learn to speak clearly and convincingly to ensure your message gets across.
Use every chance to get the most out of a deal
The more you practice something, be it in real life or in simulated role-plays, the better you’ll get at it. Most times, your practice could be with more minor transactions with customers or vendors. You could also be asking for a flexible work schedule or a raise.
However, these smaller deals can help prepare you for the bigger multimillion-dollar deal. Think of yourself as an amateur working hard to attain pro status.
Location Is Important
Sales training in New York City teaches the importance of choosing an ideal location. You could either hold the discussions at your prospect’s place or onsite at your company. Sometimes you might also opt for a neutral site.
Going to the other negotiator’s location shows respect as well as confidence. Besides, scoping out the other side’s office can be useful in gathering intelligence by learning more about them.
On the other hand, meeting on home turf gives you a chance to display your strengths. An aspirational workspace with an achievement wall full of awards can make a strong statement, for example.
Generally, most negotiators feel more confident when conducting deals somewhere they feel comfortable. Let the choice you make for the location be influenced by what’s practical, your relationship with the other side, and the image you want to project.
